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Leading IT company IPsoft Agrees Terms at The Leadenhall Building
1 April 2015
British Land and Oxford Properties have announced today that virtual IT system provider IPsoft has signed
an Agreement for Lease for level 31 at The Leadenhall Building.
Level 31 provides 11,475 sq ft of office space, and IPsoft will take a ten year lease at £75.00 per sq ft, with
an option to break after five years.
We continue to see strong interest from a wide range of occupiers and the building, which reached practical
completion in July 2014, is now 77% let or under offer.
IPsoft, headquartered in New York, operates from 13 major cities worldwide. The company, which is a
leading global provider of autonomic and cognitive IT solutions, will relocate its London office from 30 St.
Mary Axe.
Frank Lansink, EMEA CEO of IPsoft said: “London is a thriving market for the adoption of our ground
breaking technologies. We are expanding our presence in the heart of the city in order to increase the
intensity of dialogue which we have underway with the UK’s leading companies and the world’s largest
financial institutions."
Eray Ekici, Vice President at IPsoft said: “We strive to provide a premium work environment to our people,
so we are really excited to move in to this state of the art landmark and enjoy the spectacular views.”
Tim Roberts, Head of Offices at British Land said: "The arrival of a cutting-edge IT business such as
IPsoft at The Leadenhall Building underlines the fact that this is a unique building. It combines world class
design and customer service appealing to occupiers from across the corporate spectrum. We continue to see
strong demand for the building’s remaining floors.”
Mike Rayner, Head of Development at Oxford Properties said: "The signing of IPsoft is a further
endorsement of our strategic decision to delay the leasing of the upper floors until after completion. The
exceptional quality of the office space and unique arrival experience, at one of London’s newest landmarks in
the heart of The City, is generating interest from a broad mix of high calibre occupiers. ”
British Land and Oxford Properties were advised by DTZ and JLL. Cushman & Wakefield advised IPsoft.
Enquiries:
Investor Relations
Sally Jones, British Land
Media
Pip Wood, British Land
Sally Saadeh, Oxford Properties
Andrew Scorgie, FTI Consulting
Gordon Simpson, Finsbury Group
020 7467 2942
020 7467 2838
020 7822 2844
020 3727 1458
020 7251 3801
Notes to Editors
About British Land
We are one of Europe’s largest publicly listed real estate companies. We own, manage, develop and finance
a portfolio of high quality commercial property, focused on retail locations around the UK and London Offices
& Residential. We have total assets in the UK, owned or managed of £19.0 billion (British Land share of
which is £12.8 billion), as valued at 30 September 2014. Our properties are home to over 1,000 different
organisations and receive over 340 million visits each year. Our objective is to deliver long-term and
sustainable total returns to our shareholders and we do this by focusing on Places People Prefer. People
have a choice where they work, shop and live and we aim to create outstanding places which make a
positive difference to people’s everyday lives. Our customer orientation enables us to develop a deep
understanding of the people who use our places. W e employ a lean team of experts, who have the skills to
translate this understanding into creating the right places, and we have an efficient capital structure which is
able to effectively finance these places.
UK Retail assets account for 54% of our portfolio. As the UK’s largest listed owner and manager of retail
space, our portfolio is well matched to the different ways people shop today, from major regional shopping
centres to single occupier locations. We are focused on being the destination of choice for retailers and their
customers by being the best provider of spaces and services. Comprising around 25 million sq ft of retail
space across retail parks, superstores, shopping centres, department stores and l eisure assets, the retail
portfolio is modern, flexible and adaptable to a wide range of formats.
Our Office and Residential portfolio, which accounts for 46% of our portfolio is focused on London. We have
an attractive mix of high quality buildings in well managed environments and a pipeline of development
projects which will add significantly to our portfolio. Increasingly, our offices are in mixed-use environments
which include retail and residential elements. Our 7.9 million sq ft of high quality office space includes
Regent’s Place and Paddington Central in the West End and Broadgate, the premier city office campus (50%
share).
Our size and substance demands a responsible approach to business. We believe leadership on issues such
as sustainability helps drive our performance and is core to the delivery of our overall objective of driving
shareholder value and creating Places People Prefer.
Further details can be found on the British Land website at www.britishland.com
About Oxford Properties Group
Oxford Properties Group is a global platform for real estate investment, development and management, with
over 1,750 employees and C$34bn of real assets that it manages for itself and on behalf of its co-owners
and investment partners. Established in 1960, Oxford was acquired in 2001 by OMERS, one of Canada's
largest pension funds with over C$72bn in assets. Oxford has regional offices in Toronto, London and New
York, each with investment, development and management professionals who have deep real estate
expertise and local market insight.
For more information about Oxford visit: www.oxfordproperties.com.
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